Green Technology: Green economy - Building nations with accountability

Source : NST 10 October 2012| last updated at 02:29PM

By JONATHAN A. VICTOR 

Green economy is a term that resists a rigid definition because of the sheer complexity and volume of factors involved. At its fundamental, it is defined by the United Nations Environment Programme, it is a system of economic activities related to the production, distribution and consumption of goods and services that result in improved human well-being over the long term, while not exposing future generations to significant environmental risks and ecological scarcities.

The broad nature of a green economy has resulted in many grey areas and less than satisfactory implementation of green economy activities even though most nations agree that this is the way forward especially in view of the critical degradation in global environmental conditions.

Still, the situation is far from pessimistic as governments around the globe have begun putting the green agenda on their political and economic blueprints. It is sluggishly being acknowledged that the concept of a green economy is the solution to the problems plaguing the global economy and environment today. The main reason for this is because the green economy model gives strong emphasis on mitigating dire effects of economic activity on the social and environmental fronts. Economic concepts of the past, have to a large extent, focused on profit, self-interest and increasing market share, which produced a large imbalance and deficit as far as the society and environment was concerned. 

It is very important to start looking at economic concepts from a human perspective rather than just a game of numbers and percentages. At a time where earth’s resources are stretched thin, wealth is unevenly distributed and future generations face monumental survival challenges, it is not a matter of choice that the green economy be implemented but more so as a matter of duty towards the continuance the human race. It is not a time for prolonged discussion and crippling bureaucracy; it is a time for firm action.

Dr Noam Chomsky, professor emeritus at the Massachusetts Institute of Technology, expounds that the green economy concept faces resistance from big oil, coal, chemical production, and a host of other industries. He also says that the other significant challenge is the fact that investors and banks have been slow to invest in green initiatives. This is because to maximise profits the environmental and social concerns took a backseat. Often in the past consideration of these factors resulted in loss and a lack of competitiveness. However, the good news is that the old ways of operating are becoming increasingly unsustainable not only for the particular industry but also for Mother Nature. 

Many initiatives to push the green economy concept to the forefront in the past have gained little traction with nations. A massive effort to reverse this trend was hoped for in Rio De Janeiro this past June as thousands of participants from governments, NGOs and other stakeholders convened for The United Nations Conference on Sustainable Development. This convention dubbed Rio+20 focused on  how to build a green economy to achieve sustainable development and lift people out of poverty, including support for developing countries that will allow them to find a green path for development, and how to improve international coordination for sustainable development.

Sustainable development – meeting the needs of the present without compromising the ability of future generations to meet their own needs — is divided into three main components: economic development, social development and environmental protection. 

Malaysia clearly needs a fundamental shift towards a green economy. This will not be easy due in part to the fact that historically Malaysia has been a country that heavily relied on petroleum, timber and manufacturing to pilot its growth. This heavy reliance on the petroleum and timber industry has significantly eroded Malaysia’s ability to remain economically sustainable.

In his speech at the Rio+20, Malaysia’s Minister of Natural Resources and Environment, Datuk Seri Douglas Unggah Embas, said that the development framework for Malaysia as articulated in the Tenth Malaysia Plan 2011-2015 closely mirrors the three components of sustainable development.

He also said that among the initiatives implemented by the government is the feed-in tariff to promote use of renewable energy. The target is to increase the share of renewable energy in the fuel mix to 10% by 2020. The Minister also said that what was critical in assisting developing countries achieve sustainable development was the transfer of environmentally sound technologies on favourable terms to these countries. He responded positively to the Rio+20 outcome document that put in place mechanisms for the development, transfer and dissemination of environmentally sound technologies.

Leadership in the area of green economy implementation cannot be left up to traditional leader nations of the West. Some of these developed nations are the worst polluters and have been the staunchest opponents of a green economy. While many nations agree to the principles expounded, little action is taken. In the face of this new global economic shift, Malaysia stands a chance to rise to greatness if serious effort is made in moving towards a green economy. This is a new global economy that will produce new champions in the long-term. It is time for a paradigm shift in how we think and act. As Einstein aptly said: “The significant problems that we face today cannot be solved at the same level of thinking we were at when we created them”.

Read more: Green Technology: Green economy - Building nations with accountability - Extras - New Straits Times http://www.nst.com.my/nation/extras/green-technology-green-economy-building-nations-with-accountability-1.155085?cache=ynzfkhhlsup%3Fpage%3D0#ixzz2tZBdSH5X